The fund services provider Alter Domus has completed its purchase of Luxembourg Fund Partners, a so-called “super manco”.
Luxembourg Fund Partners will now operate as Alter Domus Management Company SA, a wholly owned subsidiary, according to a 13 March media release.
Super mancos handle critical operations, like compliance and risk management, for asset managers on an outsourced basis. The “super” label means the providers can handle both Ucits retail investment funds and “alternative” funds for institutional and more sophisticated investors (under Europe’s AIFMD rules).
Laurent Vanderweyen, CEO of Alter Domus, said in the firm’s press announcement:
“Thanks to this acquisition, Alter Domus is now able to offer an enhanced vertically integrated solution to asset managers looking to access the European Market for distribution of funds with alternative strategies in a homogenous and regulatory controlled environment. This has always been the aim and the spirit of the AIFMD. Furthermore, this acquisition consolidates Alter Domus’ position as the recognised leader in fund services and provides a compelling offer to asset managers seeking a ‘one stop shop’ AIFMD solution across the European alternative funds market.”
Alter Domus stated that it had 33 global offices and $160bn “under administration and is proud to serve 9 of the 10 largest private equity houses, 6 of the 10 largest real estate firms and 5 of the 10 largest private debt managers in the world.”